Snap sinks to IPO price for first time since market debut

SAN FRANCISCO (Reuters) - Shares of Snap Inc dropped 4.9 percent on Thursday to their initial public offering price, highlighting investors' loss of confidence in the social media company that faces fierce competition from Facebook.

SAN FRANCISCO (Reuters) - Shares of Snap Inc dropped 4.9 percent on Thursday to their initial public offering price, highlighting investors' loss of confidence in the social media company that faces fierce competition from Facebook.